Bitget – a crypto derivatives and copy trading platform – has launched its Bitget Web3 Fund in conjunction with the Hong Kong Blockchain Week and an initial investment of $100 million. This fund will focus on investing in Web3-friendly venture capital and outstanding Web3 projects with a goal of supporting the development of the next generation of crypto projects.
The Bitget Web3 Fund is going to seek out VCs and projects globally but prioritize partners in Asia that have a clear roadmap and an experienced team, and those that offer innovative solutions to real-world problems. Plus Bitget has received inquiries from VCs like Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker, and ABCDE Capital for potential partnerships.
Bitget has been a supporter of numerous endeavors aimed at advancing the adoption of cryptocurrencies. And the Bitget’s new ‘Go beyond derivatives’ strategy saw the exchange acquire several Web3 applications in recent months and pledge its support as a sleeve sponsor to Juventus, and as a general sponsor to the Juventus Women’s Team for the 2022-2023 season.
In a major move into the Web3 space, the exchange had recently acquired the BitKeep wallet – a Web3 access gateway with over 9.5 million users – which will further enhance the Web3 surfing experience for Bitget users. And Bitget is also launching numerous events and challenges for the community to support both individual initiatives and overall community spirit.
KEY QUOTE:
“We can see that Web3 space is evolving rapidly and many projects deserve the support to further advance such development and make Web3 a truly global phenomenon, as Web2 had once become. That is why the Bitget Web3 Fund will strive to seek out projects that have the most impact on this process. We are taking a fully conscious and responsible approach in this regard and know how important accountability is when dealing with any innovative project requiring investments. We strive to support financial innovation in Asia and believe that our platform can act as a reliable, convenient, and secure link between the worlds of DeFi and CeFi. Our team of analysts has already outlined the criteria for project selection and will adhere to them strictly.”
— Gracy Chen, the Managing Director of Bitget
